Are Virtual Assistants Compliant for Australian Brokers?

If you’re considering an Australian mortgage broker virtual assistant, the real question is not “Can I hire one?” It’s “Can I hire one without creating a compliance mess?”

Good news. Virtual assistants can be compliant. Many broker businesses use remote support safely.

But there’s a line. Cross it, and you can accidentally create licensing risk, privacy risk, cyber risk, and best interests risk. The trick is knowing where the line is, then building controls that keep you on the safe side.

What “compliant” actually means for an Australian mortgage broker virtual assistant

Compliance is not a vibe. It’s evidence.

In practice, a compliant VA setup means you can show, on request, that:

1. The VA is only doing permitted tasks for their role.
2. The broker or licensee supervises the work properly.
3. Client outcomes are protected.
4. Personal information is handled lawfully, even offshore.
5. Your systems are secure and resilient.

Mortgage brokers also sit inside a tighter framework than most people realise.

The best interests duty applies when providing credit assistance, and ASIC explains what it expects when it assesses compliance.

Separately, credit licensees have general conduct obligations under section 47 of the National Credit Act. That includes doing things efficiently, honestly, and fairly.

So the VA question becomes simple:

Is your VA model helping you meet these obligations, or quietly making them harder to meet?

Why this matters now: brokers are writing most Australian home loans

This is not a niche operating model anymore. Broker businesses are scaling.

The Mortgage & Finance Association of Australia reports broker market share hit 76.8% of all new residential home loans in the March 2025 quarter.

When an industry becomes that central, scrutiny tends to rise too.

So a VA setup should not be “cheap admin support.” It should be a controlled operating model.

The compliance line: admin support vs “credit assistance”

Here’s the single most important rule to get right.

A VA can do lots of valuable work. But if your VA starts doing work that looks like credit assistance, you can drift into licensing and supervision risk very fast.

ASIC’s broker guidance is built around what happens when you provide credit assistance and what best interests means in that context.

Safe lane tasks (typical “admin + ops” work)

These tasks are usually easier to structure safely because they do not require the VA to decide, recommend, or influence the credit outcome:

• CRM updates, file naming, document chasing
• Appointment scheduling and calendar management
• Data entry into lender and aggregator portals (as instructed)
• Preparing draft checklists and file packs
• Follow ups for missing documents (scripted)
• Serviceability calculator inputs (broker provides assumptions)
• Lodgement support and status tracking
• Settlement coordination and post settlement admin

Higher risk tasks (where businesses accidentally cross the line)

These activities often require tighter controls, and in some cases you may decide they are not suitable for an offshore VA at all:

• Recommending products, lenders, or structures
• Explaining why a lender is better for a client
• Collecting client goals and turning them into a “solution”
• Suggesting how to answer questions on the application
• Presenting options in a way that influences choice
• Negotiating with a lender about exceptions without broker direction

If a regulator or dispute ever asks, “Who shaped the recommendation?” you want a clean answer.

The broker did. The VA supported the process.

The three compliance pillars you must build around a VA model

A VA model is compliant when three pillars hold.

1) Broker duty and supervision (best interests + quality)

ASIC’s best interests duty guidance is not just theory. It points to what ASIC looks for in practice.

A VA can support that duty. Or undermine it.

Your controls should show:

• The broker remains responsible for the credit assistance work.
• The VA cannot “freelance” decisions.
• The broker reviews key outputs.
• Notes are clear and complete.

2) Credit licence conduct obligations (systems, people, controls)

Section 47 of the National Credit Act includes an obligation to do things efficiently, honestly, and fairly.

ASIC’s RG 205 explains how ASIC thinks about compliance with general conduct obligations, and it focuses heavily on whether your measures and systems are effective.

A VA model needs to fit into that.

That means documented:

• role design
• training
• supervision
• incident management
• access controls
• audit trails

3) Privacy and offshore handling (APP 8 + breach response)

If your VA is offshore, privacy becomes a board level issue.

The OAIC explains APP 8 cross border disclosure and when an entity can be accountable for what an overseas recipient does.

If your business is covered by the Privacy Act, you also need to understand the Notifiable Data Breaches scheme, which requires notification in certain serious harm scenarios.

The practical point is simple:

Offshore does not reduce your responsibility. It increases your controls requirement.

A practical compliance checklist for hiring a VA

This is the checklist that stops most problems before they start.

Step 1: Define the VA’s scope in one page

Be blunt. Write what they do and what they never do.

Include:

• tasks allowed
• tasks prohibited
• approval points
• escalation rules

Step 2: Map each task to risk level

Use three buckets:

1. Green: admin support, no judgement
2. Amber: draft work with broker approval
3. Red: client advice, recommendations, credit shaping

Then build controls around amber. Remove red.

Step 3: Build supervision that produces evidence

A good supervision model has receipts.

Examples:

• weekly file reviews
• random spot checks
• a “four eyes” rule for key documents
• scripted communications
• change logs for file notes

ASIC guidance exists because supervision and outcomes matter, not just intent.

Step 4: Implement privacy controls for offshore access

If personal information is disclosed to an overseas recipient, APP 8 becomes relevant, and OAIC guidance explains what “disclosure” can look like.

Practical controls that help:

• role based access
• least privilege permissions
• no local downloads
• device management rules
• secure password manager
• MFA everywhere
• logging and monitoring
• secure document portals, not email attachments

Step 5: Create a breach ready response plan

If you are covered by the Privacy Act, the OAIC sets out when you may need to notify under the Notifiable Data Breaches scheme.

So have:

• incident response steps
• who decides severity
• who contacts affected clients
• evidence capture
• timeline tracker

Step 6: Know your reporting obligations to ASIC too

AFS and credit licensees may need to report certain reportable situations to ASIC. ASIC summarises the regime and reporting expectation.

Your VA model should not become a blind spot.

The most common VA compliance mistakes brokers make

This is where good businesses get caught out.

• Letting the VA talk to clients without scripts
• Letting the VA explain product options
• Sharing logins with no audit trail
• Allowing downloads to personal devices
• No documentation of supervision
• No separation between draft work and broker decisions
• Assuming offshore means “not my problem”

If you fix these, you are already ahead of most of the market.

Comparison table: VA operating models vs compliance risk

Use this table to choose the model that matches your risk appetite.

The goal is not “lowest cost.” It’s “lowest regret.”

What a compliant task design looks like in real life

Here’s a practical way to structure work so the VA drives speed, while you keep compliance tight.

A simple workflow that scales cleanly

1. Broker completes discovery and sets strategy.
2. VA prepares the file pack and checklist.
3. Broker reviews and confirms the lender pathway.
4. VA supports lodgement and status tracking.
5. Broker handles advice conversations and key approvals.
6. VA manages post settlement admin.

Notice what’s happening.

The VA increases throughput. The broker retains the judgement.

That alignment matters under best interests duty expectations.

Data handling rules that keep offshore VAs safe

This is the minimum standard many broker businesses adopt.

• Use a dedicated work email for the VA
• Enforce multi factor authentication everywhere
• Restrict downloads and printing
• Use secure portals for documents
• Separate client data from internal notes
• Apply least privilege access
• Log access and changes
• Train the VA on privacy basics and escalation

OAIC guidance on cross border disclosure is worth reading carefully if your VA sits outside Australia.

And your breach plan should align with the OAIC’s Notifiable Data Breaches framework if you are covered.

FAQ: People also ask about mortgage broker virtual assistants

Are offshore virtual assistants allowed for Australian mortgage brokers?

Yes, they can be. The key is task design and controls. Keep VAs in support tasks, not credit recommendations. Maintain supervision evidence. Manage privacy for offshore disclosure under APP 8.

Does a virtual assistant need an Australian Credit Licence?

If they only do admin support, usually no. If they provide “credit assistance” activities, licensing and authorisation issues can arise. Design the role so the broker remains the decision maker.

What tasks can a mortgage broker assistant do safely?

Scheduling, CRM updates, checklist prep, document chasing, lodgement support, and status tracking are common. Draft tasks can work if the broker reviews and approves. Avoid tasks that influence recommendations or client decisions.

How do brokers manage client privacy with offshore staff?

Use least privilege access, secure portals, MFA, device rules, and monitoring. If you disclose personal information to an overseas recipient, APP 8 may apply and accountability can follow. Have a breach response plan aligned with OAIC guidance.

What happens if there is a data breach involving a virtual assistant?

If your organisation is covered by the Privacy Act, you may need to notify affected individuals and the OAIC when serious harm is likely. This is the Notifiable Data Breaches scheme. You should have a clear incident process and evidence capture.